All Forum Posts by: Lebert Wilson-Harris

Still looking for help?

Good morning everyone,

I did a search for this topic, but after going through the first 4-5 pages of search results I decided it would be easier to post this question. I was talking with a friend about investing in real estate, and had mentioned the method of wholesaling to get into the arena and then building from there. He currently works at the social security office, and mentioned to me that he sees recipients of SS benefits who inherit properties from a family member's passing. He also mentioned that inheriting these properties is a strike against their SS benefits, and they have up to a year to either sell the property or keep it while taking the deductions in what they receive monthly. I saw this as a perfect opportunity, but wanted to know how does one go about getting this information in a legit and lawful manner? Also I don't want to put his job in jeopardy.

Thanks for all the advice in advance.

@Brandon Johnson thank you for the reply. I took the advice that I got from one of the "Bigger Pockets" podcast, and called some of the landlords in the area. One actually took the time to speak with me, and gave what I consider good news. My dad seems convinced that the city isn't looking to improve the area, so it's not worthwhile to rent out my grandmother's house. It's located in the Acadian Thruway area that runs parallel to Plank Rd, north of Florida Blvd. My dad also seems to think that putting a business in the middle of that area would fair better in the event the city looks to improve that area, but I don't see any type of gentrification taking place in that area any time soon. I think I need to put together some data to support my case of renting out the two properties.

Hello,

My name is Lee Wilson, and I am new to the website/forum after discovering the Bigger Pockets podcast. I tried a search but did not find exactly what I was looking for. So I wanted to see if anyone could give me an answer. My grandmother passed away a few years ago, and she left her house to my dad. It has been sitting unoccupied since she passed, and I brought up the idea of renting the house to my dad. Her house would need some major upgrading, and it's also located in a not-so-great area in Baton Rouge, LA. My first instinct is that we would have to go Section 8, but on her property is a studio that she once used for dance lessons and a separate one bedroom apartment that has been updated in recent years due to fire damage.

My main question is would we be able to rent out the main house and apartment under section 8?